How target became the retail trade of the year, with the stock up nearly 90%

by MR Magazine Staff

Target is far and away the best-performing retail stock of 2019. After reporting fiscal third-quarter results on Wednesday that crushed Wall Street’s expectation, Target shares rose 14.1% to close at $126.43. The stock is up 90% this year, topping even the strong performances of TJX and Walmart, and is this year’s sixth-best performing stock in the S&P 500 index. “We thought the market was already pricing in more of TGT’s progress, but today’s results (esp. margin expansion) came in well above even the most bullish expectations,” Goldman Sachs wrote in a note to investors. Read more at CNBC.